The total amount of money accrued ( principal and interest ) in 35 years is $570.78.
<h3>What is the total amount accrued?</h3>
The formula for compound interest is expressed as;
A = P( 1 + r/t )^(n×t)
Given the data in the question;
- Principal P = $200
- Rate r = 3% = 3/100 = 0.03
- Compounded monthly n = 12
- Time t = 35
- Amount accrued in 35 years A = ?
Plug the given values into the equation above.
A = P( 1 + r/n )^(n×t)
A = 200( 1 + 0.03/12 )^(12×35)
A = 200( 1 + 0.0025 )^(420)
A = 200( 1.0025 )^(420)
A = 200( 2.85390914 )
A = $570.78
Therefore, the total amount of money accrued ( principal and interest ) in 35 years is $570.78.
Learn more about compound interest here: brainly.com/question/27128740
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Rachel would take 30 minutes to run in 4miles
Answer:
the answer of the question is b. 8.2 mm
Answer:
13 weeks
Step-by-step explanation:
Given that :
Cost of new tub = $312
Planned saving per week = $24
The number of weeks he'll have to save in other to be able to afford the tub can be obtained using the relation :
Number of weeks = cost of new tub / weekly saving
Number of weeks = $312 / $24
Number of weeks = 13 weeks
